STOXX 600 soft, payrolls on the horizon
STOXX 600 down 0.1%
US payrolls loom
Real estate sector lags
Wall St futures higher
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STOXX 600 SOFT, PAYROLLS ON THE HORIZON
Europe's STOXX 600 index .STOXX is edging lower on Friday but is still on track for a more than 1% gain this week, its biggest weekly jump since May 6 and first positive week in three.
The pan-European benchmark is last down less than 0.2% at 524.18 but within touching distance of its record intraday high of 525.55 reached on Thursday, hours before the ECB's first interest rate cut in five years .
All the major benchmarks are nursing losses - the DAX .GDAXI, CAC 40 .FCHI and FTSE 100 .FTSE all down around 0.4% - before the U.S. payrolls report which could help determine whether the Fed will also cut interest rates any time soon. Markets put an 80% chance of a move by the September meeting.
"The losses seen at the open seem to be stemming more from a lack of good news, than the introduction of anything problematic," says Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.
In corporate news, German property companies Leg Immobilien LEGn.DE and Vonovia VNAn.DE are bottom of the STOXX 600 after Morgan Stanley cooled on the sector. The real estate sector .SX86P is the worst performer in Europe, down 1%.
Here's your opening snapshot:
(Samuel Indyk)
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FRIDAY'S OTHER LIVE MARKETS POSTS:
EUROPEAN STOCK FUTURES CALM BEFORE PAYROLLS TEST CLICK HERE
GLOBAL RISK RALLY HINGES ON PAYROLLS CLICK HERE
Higher for longer? Higher for longer? https://tmsnrt.rs/41d2UWm
European shares mostly lower https://reut.rs/3Ri0K43
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